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Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and close to 2,000 points, it seems that the signal was given late last week and early this week for a swift retreat. Yesterday, the BDI, the dry bulk market’s benchmark was down by 2.76% to 1,764 points, hot on the heels of last Friday’s fall. The biggest fall was recorded in the Capesize segment, with the Baltic Capesize Index (BCI) losing 5.35% to end at 2,847 points. The Panamax market meanwhile was also down, but by a far less aggressive 0.69% to 1,734 (Baltic Panamax Index).
According to the latest weekly report from Paris-based shipbroker Barry Rogliano Salles (BRS), “bulk rates continued to rise in the early part of last week but a sharp correction on Friday saw all sizes lose points, most notably in the Cape segment which fell nearly 260 points. The drop ended seven consecutive week-on-week gains for the Capes. Overall the BDI finished the week at 1,814 points, a 1% drop on last week, while the BCI and BHI were also in the red, finishing at 3,008 points (-5.6%) and 677 (-0.9%) respectively. The Panamaxes and Supras showed gains however rising to 1,746 points (+3.6%) and 1,446 points (+3.2%). In the newbuilding market, we note a sharp slowdown in ordering activity this year, with just 32m deadweight of dry bulk tonnage placed, around half the amount contracted at this stage last year. Orders continue to tick over, due in part to the relatively low newbuild prices on offer, with one Chinese yard offering a rumoured $30m for a kamasarmax. However, the head of Jiangsu-based New Century Shipbuilding claimed this week such low prices would only be available for another 6 months or so as yards would soon be forced to refuse ‘at cost’ business” said BRS.
Commenting on the Capesize market it said that “despite a good start to the week, Capesize rates showed a sharp decline by Friday, with the market posting its first weekly fall in 7 weeks. Again the Atlantic showed greater firmness, losing around 4% on the main routes, while Aus-China and Bra-China saw declines around 6-7%. It was a mixed bag of news for the market, with the mining companies taking plenty of tonnage in the Pacific. However paper prices started to drop as early as Wednesday which appeared to have a knock-on effect on the physical. After trading at $23,700 last Friday, October FFA prices have now dropped to $19,200 per day and November to around $16,500. On Monday the BCI dropped another 160 points and the 4TC was recorded at just over $23,000.
Regarding the Panamax market, the shipbroker’s report said that it increased overall by $500 per day on the 4TC average. “This positive trend mainly came from the Atlantic basin where the USG grain fronthaul cargoes started to be marketed, leading to a decrease in the open tonnage position (although still important); the fronthaul route gained $1,000 per day to close at $22,500 per day. The TA round activity was however quieter with ships fixing in the low $14,000s per day. In the Pacific the market kept stable at very close to $14,000 for the Nopac round and the number of ships decreased in the area. Out of India, the monsoon will be over within 2 weeks which should lead to an increase in iron ore exports. The Goa/China route was paying $14 pmt, 50 cents better than a week ago. On the short period front, the numbers were topping during the week and PMX LME were fixed at around mid $14,500 per day, $500 below that a week ago” said the shipbroker.
It went on to mention that “Supramaxes were well in demand except in India where rains were still ongoing. The Monsoon is expected to end during the next few weeks which might result in more activity there as well. But owners can hardly complain about other regions. The East has been quite active after the holidays in the beginning of the week. Mid/high teens are achievable for an index Supramax for Indonesia/India coal business. We shall see if that remains the case, should fixing activity in India really increase. USG/China rates are now hovering around low $32/33,000s for bigger units while a TESS 52’ is still worth around $20,000 for a trip out with delivery West Africa.
The Handysize segment shows a mixed picture with not much good news for owners in the Atlantic. A lack of sugar cargoes caused rates to continue to decline in ECSA. A modern 28,000 dwt is now fixable in the low teens aps Brazil to Skaw/Passero. Even worse news emerged from the USG where two relatively modern 28,000 dwt vessels were reportedly fixed at below $10,000 aps for trips within the Atlantic. All the while, in the Far East demand supported higher rates and much more period interest as well. Modern 32,000 dwt vessels are being negotiated for short period around $13,000 with delivery SE Asia” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
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- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Planning Commission, India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- White Energy Company Limited
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
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